Interest rate subsidy package disbursement below expectations

September 14, 2023

HCMC – The disbursement of the 2% interest rate subsidy package in Vietnam has not met expectations, as a mere 1.7% of the VND40-trillion package has been paid out so far, according to the State Bank of Vietnam. Commercial banks have allocated VND681 billion, leaving a significant gap between the intended support and the actual disbursement. The paperwork, documentation, and compliance checks needed to access the 2% interest rate support have deterred some potential beneficiaries. The VND120-trillion credit package for social housing has seen 12 provinces identify 25 qualified projects requiring over VND13 trillion in loans. Additionally, the VND15-trillion credit package for the forestry and aquatic sector has made positive disbursement results, with banks disbursing nearly VND800 billion from this credit package within 20 days of its implementation.

The source of this news is from The Saigon Times